Teraplast reports EBITDA margin of nearly 10% in “challenging economic climate”
The turnover of major Romanian construction materials group TeraPlast Group (BVB: TRP) increased by 37% YoY to RON 373.6 mln in the first half of 2022.
The business advanced slower than previously, as an effect of a “radically changed economic environment” that impacted the performance, the company’s quarterly report reads.
The deterioration of the climate, visible since the beginning of the year, reportedly intensified in the second quarter.
The company’s EBITDA stood at RON 35.7 mln, down by 16% compared to the same period of last year.
The EBITDA margin remained at the targeted levels for the Installation and Compounds business lines, but the Group margin was affected by the TeraGlass and TeraBio Pack results.
The net profit experienced a contraction, reaching RON 16.4 mln (H1/2021: RON 28.7 mln), on a strong base effect and as a result of the commissioning of new investments, which are still in the ramp-up phase.
Export sales evolved excellently in H1/2022, reaching RON 63.8 mln, a 79% increase compared to H1/2021. The advance is double the 40% YoY growth target aimed by the Group.
The share of exports in the total turnover rose from 13% in H1/2021 to 17% in H1/2022.
Teraplast has a market capitalisation of RON 1.46 bln (EUR 300 mln).
(Photo: Teraplast Facebook Page)